Albany, NY -- (SBWIRE) -- 11/11/2015 -- Engineered wood, also known as composite wood comprises of a number of wood products made by binding veneers, particles, fibers and strands of wood, together with adhesives to form composite materials. They are modeled to absolute design requirements as per the client's specifications and tested to meet international and national standards. They include a variety of products ranging from plywoods to roof trusses.

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Increasing demands for cost effective wood products for building applications such as load bearings, structure panels and flooring is expected to drive the growth in the market. With the rising trend of green technology, certain smart products are being encouraged which aid in reducing green house gas emissions. North American countries such as the U.S. have initiated establishment of green building standards in several states. They provide momentum for certified wood products that are linked with low emission levels. Although the future of the market looks significantly bright, challenges such as fluctuation of cost of energy due to volatile oil prices could stall the momentum of the engineering wood market.

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The global engineering wood market has been impacted due to the controlling trends of the furniture and housing sectors. The market development depends on its type of products such as glulam, laminated veneer lumber (LVL) and oriented strand board (OSB). Despite the downfall of demand in large scale remodeling projects and new houses, the volume consumption is expected to pick up grip owing to rising consumer acceptance.

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Europe was the largest revenue generator in the engineering wood market with its major contribution in industrial appliances, followed by North America and Asia Pacific. Shenzhen Risewell Industry Co. Ltd, Georgia-Pacific, Boise Cascade, Home Depot and Lowe's are some of the companies leading the engineered wood market.

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